Sensex ends 194 pts lower owing to late selling; Broader indices outperform

CLOSING BELL ON JUNE 01, 2023: The NSE Nifty 50 settled with a loss of 47 points below the 18,500-mark. Overall market breadth was fairly positive.

3:53 PM

Comment :: 'Rise in US bond yields put pressure on equities'

Despite challenges in the global economies, the domestic market displayed better than estimated Q4 earnings growth, along with 7.2% GDP growth in FY23, adding buoyancy to the market during the week. However, today the market closed with a marginal negative bias in which banks witnessed heavy profit booking. Investors turned cautious in anticipation of inflationary pressure in the US after raising the US debt ceiling. The US 10-year bond yield inched higher; the market is looking ahead to the trajectory of US interest rates to get more visibility.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:50 PM

Tech View :: 'Nifty Bank has support around 43,500-43,400'

The Bank Nifty index remained under the control of bears as they maintained their grip on the market. Selling pressure was observed from the resistance zone around 44200, suggesting that sellers were active at that level. If the index sustains below the level of 44,000, it could indicate further downside potential. In such a scenario, the index may witness a decline toward the support zone around 43,500-43,400.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:48 PM

Tech View :: 'Sentiment may remain negative until Nifty surpasses 18,500'

The Nifty index experienced a limited movement, staying within a certain range throughout the day. However, the closing saw a prevalence of selling pressure. The overall sentiment in the market is expected to remain negative until the Nifty index manages to surpass the 18,500 level. If the index fails to move back above this level, it could potentially lead to a correction in the market. On the downside, there is support expected around the range of 18,300-18,350. Conversely, resistance can be anticipated at the higher end around 18,650.

Views by: Rupak De, Senior Technical at LKP Securities

 

3:44 PM

Currency check :: Rupee ends at 82.41/$ against Wednesday’s close of 82.72/$

3:41 PM

Market Check :: Top losers on the BSE today

3:41 PM

Market check :: Top gainers on the BSE today

3:39 PM

Broader market :: Mid, SmallCaps outshine frontline peers

3:37 PM

Sector close :: Indices end mixed; Pharma, Realty indices gain 1%, Banks drag

3:36 PM

Sensex Heatmap :: 13 stocks drop in trade, Airtel, ICICI Bank worst hit

3:34 PM

CLOSING BELL :: Nifty ends below 18,500

3:33 PM

CLOSING BELL :: Sensex sheds 194 pts in late deals, ends low for second day

3:25 PM

TCS set for 'exciting new journey ', says new CEO & MD K Krithivasan

K Krithivasan, who on Wednesday took over as the CEO and MD of Tata Consultancy Services (TCS), has said he sees an "exciting new journey" for India’s largest IT services firm. READ MORE

3:13 PM

Westlife Foodworld soars 10%; hit new high on strong business outlook

Despite weak macros, Westlife Foodworld is targeting 40-45 store additions (vs. 35 in FY23) and has guided for a strong 8 per cent SSG in FY24. READ MORE

3:02 PM

ALERT:: Lupin receives USFDA nod for Diazepam Rectal Gel; stock up 1%

Lupin today announced that its wholly-owned subsidiary, Novel Laboratories Inc., based in Somerset, New Jersey, has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Diazepam Rectal Gel, 10 mg and 20 mg, Rectal Delivery System, a generic equivalent of Diastat AcuDialTM Rectal Delivery System, 10 mg and 20 mg, of Bausch Health US, LLC.

2:50 PM

Jet fuel prices slashed by 7% on softening international oil prices

Price of commercial LPG, which is used by business establishments like hotels and restaurants, on Thursday was cut by Rs 83.5 per 19-kg cylinder -- the third straight monthly reduction. READ MORE

2:39 PM

ALERT :: Delhi High Court orders SpiceJet to pay Rs 380 crore to former promoter Kalanithi Maran, says report

>> According to Mint, HC has asked it to submit an affidavit of assets within four weeks

>> The High Court ruling on May 29, 2023 originates from a long-running battle between the Maran family and the current promoter, Ajay Singh, and SpiceJet, over contractual obligations.

>> Maran sued SpiceJet in 2017 for allegedly causing losses by failing to issue convertible warrants and preference shares to him and his KAL Airways

2:35 PM

CRISIL upgrades Central Bank rating on improvement in profitability

Rating agency CRISIL has upgraded the rating for Central Bank of India’s long term debt from “A+” to “AA-”, citing sustained improvement in profitability and improved asset quality. READ MORE

2:23 PM

Monthly Sales:: SML Isuzu May sales up 13%; stock rallies 3%

SML Isuzu reported 13 per cent hiigher sales in May 2023 at 1,290 units as against 1,145 units sold in May 2022. 

2:14 PM

Monthly Sales:: Eicher Motors May sales jumps 15.8%; stock up 0.6%

Eicher Motors today reported 15.8 per cent growth in domestic sales at 5,826 units in the month of May 2023 when compared with 5,033 units sold in May 2022. Exports however declined by 46.9 per cent from 471 units to 250 units. 

2:04 PM

UPI transactions at record high of Rs 14.3 trn in May, spike in 10 days

Rise at a time when the government is pushing to bring various tax collections under digital payment. READ MORE

1:51 PM

ALERT:: Coal India OFS non-retail portion fully subscribed

Source: BSE

1:43 PM

Asian Market Update:: Major indices flat; Nikkei outperforms

Source: Yahoo Finance

1:32 PM

ALERT :: TVS Motor increases prices of iQube from June 1 by up to Rs 22,000

>> TVS Motor Company says after FAME II revision, TVS iQube‘s price increase will come from June 1, 2023 in the range of Rs. 17,000 – Rs. 22,000 depending on the variant.

1:21 PM

Nifty Realty index at highest level since Feb 22; surges 25% in two months

At 12:22 PM; Nifty Realty index, the top gainer among sectoral indices, was up 1.4 per cent, as compared to 0.09 per cent rise in the Nifty 50 index. The realty index hit an intra-day high of 487.15, its highest level since February 2022. In past two months, the index has zoomed 25 per cent, as compared to 6.9 per cent rise in the Nifty 50 index. READ MORE

1:10 PM

Market Check :: BSE MidCap index up around 0.5%

12:56 PM

ALERT :: S&P affirms Reliance Industries' ‘BBB+’ rating, outlook stable

12:44 PM

ALERT :: Maruti Suzuki May domestic sales rise 13%, exports fall

12:33 PM

Toyota logs 2-fold growth with highest monthly sales in May at 20,410 units

Toyota Kirloskar Motor (TKM) Vice President of Sales and Strategic Marketing Atul Sood said the automaker has scaled a new high in May by reporting the highest monthly sales performance of 20,410 units. READ MORE

12:21 PM

ALERT :: Bank of India appoints B.Kumar as Chief Financial Officer with immediate effect

12:11 PM

ALERT :: Escorts Kubota's tractor volume grew by 9% in May 2023